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LEASES

3 Months Ended

Mar. 31, 2021

NOTE 10 — LEASES

The table below summarizes the right-of-use assets and lease liabilities in the Company’s Condensed Consolidated Balance sheets:


Operating Leases	Balance Sheet Classification	March 31, 2021		December 31, 2020
Right-of-use assets	Other assets	$	39,936	$	43,570

Current liabilities	Other current liabilities	$	10,652	$	11,502
Noncurrent liabilities	Other liabilities		31,175		33,988
Total lease liabilities		$	41,827	$	45,490

Total lease expense, which is included in Cost of goods sold and Selling, general and administrative expenses in the Company’s Consolidated Statements of Income, was $5,051 and $5,219 in the three months ended March 31, 2021 and 2020, respectively. Cash paid for amounts included in the measurement of lease liabilities at March 31, 2021 and 2020, respectively, were $3,389 and $4,097 and are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Right-of-use assets obtained in exchange for operating lease liabilities during the three months ended March 31, 2021 and 2020 were $0 and $2,035, respectively.

The total future minimum lease payments for noncancelable operating leases were as follows:


	March 31, 2021
2021	$	9,132
2022		9,559
2023		7,596
2024		6,038
2025		3,253
After 2025		11,713
Total lease payments	$	47,291
Less: Imputed interest		5,464
Operating lease liabilities	$	41,827

As of March 31, 2021, the weighted average remaining lease term is 7.2 years and the weighted average discount rate used to determine the operating lease liability is 3.5%.